This is key. Instead of complaining about the lack of new store announcements, consider the PR's that have come out thus far in 2017.
1. LOI was agreed upon for the full buildout of a new Giggles N' Hugs in NorCal. Say what you will about it being "non-binding," this demonstrates the direction management is going with regard to these new stores. The two (formerly three) that are up and running are a proven concept, with revs increasing substantially year after year after year. And that's in sunny SoCal where there's plenty of other options for the kids.
2. They've secured celebrity ambassadors and investors as they promised. Michelle Steinberg's track record needs to be taken seriously. Celebrities like Jillian represent the type of money shareholders want to see coming into the company. It doesn't affect the float, and it increases brand recognition and legitimacy. If Chardan gets in the game, look out.
3. Iconic was paid off in full and the St. George arbitration shows that management isn't just going to sit back and allow St. George to pull one over on them. They're protecting the shareholders AND getting toxic debt off the books as the company looks to move forward.
IF management can continue down this path of productive cash sources coming in and deals like the one from the LOI, it will not be long before GIGL is both profitable and expanding at a much quicker pace. Patience now is key. Everyone is entitled to their skepticism, and in the OTC it's never unwarranted, but if you sit down and consider what these PR's and the 10-k spell out it's that this company is thinking big, learning from their mistakes, and executing a methodical plan that will pay off big if/when it comes to fruition
AI
